Impact Of Internal And External Debt On Economic Growth In Nigeria (1985-2018):- Okechukwu Gift C

ABSTRACT

 This study examined the impact ofinternal and external debt on economic growth in Nigeria was investigatedfor a robust period of34 yearsfrom 1985 to 2018. The statistical data used was source from central bank ofNigeria statistical bulletin for 2018, while imploring real gross domestic product as the dependent variable and internal, external debt as the independent variables. The study regressed the series through augmented dickey andfuller unit root, johanson cointegration test and ordinary least square estimate. The result reveals that internal and external debt has a significant positive relationship with economic growthforthe period. It also highlights the existence ofa b-directional relationship. The study recommends that; the government through the apex bank should formulate and enact policies that will regulate the trendofinternal and external debt in the economy and the government is therefore advice to manage the movement in debt in the economy in other to maintain steady economic growth in the country.